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Telecom Italia CEO Confident Deal Within Reach on Single Network
Date: May 5, 2022
MILAN (Reuters) -The head of Telecom Italia (TIM) said on Thursday he was confident of clinching a preliminary agreement to merge Italy’s biggest phone group’s network assets with those of rival Open Fiber within days. The debt laden former phone monopoly is working on an overhaul centred around a split of its services businesses from...
Telenor Q1 Profit Misses Forecast as Costs Rise
Date: May 3, 2022
OSLO (Reuters) -Norway’s Telenor posted on Tuesday weaker-than-expected first-quarter profits and said growth in earnings was expected to lag revenue development by a few quarters as costs rose. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for January-March fell 4.5% year-on-year to 11.66 billion Norwegian crowns ($1.24 billion), while analysts in a poll on...
Orange’s Quarterly Sales Boosted by Africa and Middle East
Date: April 26, 2022
By Mathieu Rosemain PARIS (Reuters) -Orange, France’s biggest telecoms operator, said high growth in its Africa and Middle East operations offset declines in revenue in its home market and Spain in the first quarter. Chief Executive Christel Heydemann, who succeeded Stephane Richard on April 4, is taking over the former monopoly as it struggles to...
Ericsson Warns Likely to Be Fined Over Iraq Scandal, Reports Profit Slump
Date: April 14, 2022
By Supantha Mukherjee STOCKHOLM (Reuters) – Swedish telecom provider Ericsson said on Thursday it would likely be fined by U.S. regulators for its handling of a bribery investigation in Iraq and reported a slide in quarterly earnings due to its suspension of business in Russia. The company disclosed in February that an internal investigation had...
France’s Iliad Eyes Telecom Italia’s Consumer Services Unit – Sources
Date: April 13, 2022
By Elvira Pollina and Mathieu Rosemain MILAN (Reuters) -Iliad is considering buying into Telecom Italia’s (TIM) domestic consumer services operations as part of the French phone group’s push to strengthen its Italian business, two sources familiar with the matter said. Iliad is weighing the investment as TIM works on a turnaround plan centred around a...
Nokia to Stop Doing Business in Russia
Date: April 12, 2022
By Supantha Mukherjee STOCKHOLM (Reuters) -Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson, which said on Monday it was indefinitely suspending its business in the country. Hundreds of foreign companies are cutting ties with Russia following its Feb. 24 invasion of...